For those who know me, know that I love talking numbers. Numbers have the power to keep the economy moving or sinking. One sector that has experienced increased cash flow is the global essential oils market. This arena has grown steadily in the last few years with a projected reach to 11.19 Billion USD by 2022.
The essential oils market is motivated by economic influence such as rising double income households and increasing disposable incomes among consumers. Companies within this sector have also tapped into the food and beverage, weight loss, home cleaning, and cosmetic markets increasing the organizations’ value and customer target base. The growing number of households replacing conventional items from medicine to cosmetics is driven by the multi-purpose use and genuine oil-based ingredients.
Essential oils have gained increased momentum and value in the wellness market with aromatherapy and relaxation methods becoming widely discussed topics for stress reduction. Corporate well-being programs have increased in the past five years offering employees wellness support from stress management techniques and aromatherapy for one’s emotional well-being, job satisfaction, and work-family balance.
With the diverse range and purpose of essential oils, the industry capitalization reaching a billion-dollar status by 2022 comes as no surprise.
Still peaked? Feel free to contact me to learn more about the essential oil industry and its impact on the health and wellness sector.